Myers Industries (NYSE:MYE) Issues FY19 Earnings Guidance

Myers Industries (NYSE:MYE) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.75-0.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of down low to mid single digits (cons -1.4%), compared to the consensus revenue estimate of $558.59 million.Myers Industries also updated its FY 2019 guidance to $0.75-0.85 EPS.

Shares of NYSE MYE traded up $0.11 during trading on Friday, reaching $16.17. The company had a trading volume of 93,009 shares, compared to its average volume of 108,776. Myers Industries has a 12 month low of $14.24 and a 12 month high of $25.70. The company has a current ratio of 2.26, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $18.23. The company has a market cap of $631.22 million, a PE ratio of 21.28 and a beta of 1.65.

Myers Industries (NYSE:MYE) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. Myers Industries had a positive return on equity of 15.62% and a negative net margin of 0.99%. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $138.00 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Myers Industries will post 0.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.34%. Myers Industries’s payout ratio is 71.05%.

Separately, Zacks Investment Research lowered Myers Industries from a buy rating to a hold rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus target price of $20.00.

Myers Industries Company Profile

Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.

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Earnings History and Estimates for Myers Industries (NYSE:MYE)

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